TriaGen Wealth Management LLC Buys New Holdings in Western Alliance Bancorporation (NYSE:WAL)

TriaGen Wealth Management LLC bought a new stake in Western Alliance Bancorporation (NYSE:WAL) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,829 shares of the financial services provider’s stock, valued at approximately $418,000.

A number of other large investors have also modified their holdings of WAL. V Square Quantitative Management LLC bought a new position in Western Alliance Bancorporation in the third quarter valued at about $31,000. ORG Wealth Partners LLC bought a new position in Western Alliance Bancorporation in the third quarter valued at about $33,000. Allspring Global Investments Holdings LLC bought a new position in Western Alliance Bancorporation in the first quarter valued at about $27,000. UMB Bank n.a. boosted its holdings in Western Alliance Bancorporation by 136.8% in the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 249 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Western Alliance Bancorporation by 57.4% in the first quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 183 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Western Alliance Bancorporation Stock Down 8.9 %

Western Alliance Bancorporation stock traded down $8.39 during midday trading on Friday, reaching $85.53. The stock had a trading volume of 4,721,123 shares, compared to its average volume of 1,313,068. The firm’s fifty day simple moving average is $82.58 and its 200-day simple moving average is $70.51. Western Alliance Bancorporation has a 1-year low of $38.81 and a 1-year high of $94.28. The stock has a market capitalization of $9.42 billion, a P/E ratio of 12.47, a price-to-earnings-growth ratio of 1.35 and a beta of 1.44. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.88.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Thursday, July 18th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.04. Western Alliance Bancorporation had a return on equity of 13.98% and a net margin of 15.54%. The business had revenue of $771.80 million for the quarter, compared to analyst estimates of $737.97 million. During the same quarter last year, the firm earned $1.96 EPS. Western Alliance Bancorporation’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, analysts expect that Western Alliance Bancorporation will post 7.41 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.37 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.48 dividend on an annualized basis and a yield of 1.73%. Western Alliance Bancorporation’s dividend payout ratio is 21.57%.

Insider Buying and Selling at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $82.75, for a total value of $247,919.00. Following the completion of the transaction, the director now directly owns 4,056 shares in the company, valued at $335,634. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $82.75, for a total value of $247,919.00. Following the completion of the transaction, the director now directly owns 4,056 shares in the company, valued at $335,634. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Russell Curley sold 5,070 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $76.43, for a total value of $387,500.10. Following the completion of the transaction, the insider now owns 36,718 shares of the company’s stock, valued at approximately $2,806,356.74. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,265 shares of company stock worth $1,700,391 over the last ninety days. 2.75% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

WAL has been the topic of several recent research reports. Barclays raised their price target on Western Alliance Bancorporation from $86.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft raised Western Alliance Bancorporation from a “hold” rating to a “buy” rating and increased their target price for the company from $83.00 to $101.00 in a research note on Monday, October 7th. Royal Bank of Canada set a $99.00 target price on Western Alliance Bancorporation and gave the company an “outperform” rating in a research note on Friday. Jefferies Financial Group increased their target price on Western Alliance Bancorporation from $70.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Finally, Stephens reissued an “overweight” rating and issued a $102.00 target price on shares of Western Alliance Bancorporation in a research note on Friday. One research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $92.27.

Western Alliance Bancorporation Profile

Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates through Commercial and Consumer Related segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; demand deposits; and treasury management and residential mortgage products and services.